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In one of its largest warehousing transactions, Zomato has leased 3.08 lakh sq. ft. of warehousing space at Sumadhura Logistics Park near Hoskote, Bengaluru. The deal has been locked for 7 years.
Zomato reported a net profit of INR 138 crore for the October-December period, marking the third straight quarter of being profitable. Revenue rose 69% year-on-year to INR 3,288 crore at a time when the broader e-commerce sector is reeling under the pressure of high inflation and reduced demand.
Sumadhura Logistics Park, Hoskote, is the largest built-to-suit warehousing park in Bengaluru. Sumadhura Group made an initial investment of INR 600 crore in the first phase of Sumadhura Logistics Park. The first phase spans across 100 acres, offering 2.5 million sq. ft. of commercial warehouse space. The company aims to increase the total warehouse space at Sumadhura Logistics Park to 6 million sq. ft. in the next phase.
Sumadhura Logistics Park claims to offer a “comprehensive” range of amenities to ensure the utmost convenience and safety for its clients. It is strategically located to provide easy access to key industrial and manufacturing clusters, as well as consumption markets within the city.
Sumadhura Logistics Park marks the company’s entry into the ever-expanding logistics sector, catering to the growing demand for top-notch warehousing solutions in Bengaluru and surrounding areas. Madhusudhan G, chairman and managing director, Sumadhura Group said that their new facility is a Grade A+ facility equipped with the latest amenities to meet the diverse requirements of industries such as e-commerce, pharmaceuticals, manufacturing, automobile, logistics, fast-moving consumer goods (FMCG), retail, and electronics.
Warehouses act as strategic buffers, providing security against sudden disruptions and enabling businesses to maintain a degree of continuity and meet consumer demand. Retail has emerged as one of the key drivers for warehousing demand in India over the last five years, with its share increasing from 8% in 2019 to 13% in 2022, according to a recent report by CBRE.
As per the report's findings, the collective warehousing demand for e-commerce, FMCG, and retail sectors accounted for nearly 27% of the total demand from 2019 to H1 2023.
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